OFFSHORE RIG MUSEUM INC

EIN: 760280571 501(c)(3) Arts, Culture & Humanities

HOUSTON, TX

Total Revenue
$1,916,997
Total Expenses
$1,794,978
Total Assets
$4,976,384
Net Assets
$4,790,766
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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
TX
Principal Officer
JAMES J PARR
Phone
2816798040
Tax Period
2024-01-01 to 2024-12-31

OFFSHORE RIG MUSEUM INC, founded in 1989, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.9M in total revenue in fiscal year 2024. Revenue surged 120% from the prior year, signaling strong growth momentum. Expenses of $1.8M left a modest 6% surplus.

Mission

TO PROMOTE THE OILFIELD ENERGY INDUSTRY THROUGH DISSEMINATION OF LITERATURE; EDUCATIONAL PRESENTATIONS FOR SCHOOLS AND OTHER INSTITUTIONS, CIVIC AND PRIVATE GROUPS; AND TO PROVIDE A MUSEUM HOUSING INTERACTIVE EXHIBITS AND DISPLAYS OF OFFSHORE EXPLORATION, DRILLING, AND INSTITUTIONS, CIVIC AND PRIVATE GROUPS; AND TO PROVIDE A MUSEUM HOUSING INTERACTIVE EXHIBITS AND DISPLAYS OF OFFSHORE EXPLORATION AND PRODUCTION.

Program Service Accomplishments

Program 1
Expenses: $1,238,816 Revenue: $152,485

DURING 2024, 32,000 PEOPLE VISITED THE OCEAN STAR OFFSHORE DRILLING RIG MUSEUM AND EDUCATION CENTER WHICH INCLUDES FAMILY DAYS, TOUR PLUS PROGRAMS, EDUCATION TOURS, SENIOR TOURS, SCOUT DAYS, ETC.

Program 2
Expenses: $173,242

THE ORGANIZATION PROVIDES ENERGY EDUCATION THROUGH THE ORGANIZATION'S MOBILE OILFIELD LEARNING UNIT (MOLU) THAT IS OFFERED TO SCHOOLS FOR FREE OR A MODEST FEE. THE MOLU IS OFFERED TO FIFTH GRADE...

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THE ORGANIZATION PROVIDES ENERGY EDUCATION THROUGH THE ORGANIZATION'S MOBILE OILFIELD LEARNING UNIT (MOLU) THAT IS OFFERED TO SCHOOLS FOR FREE OR A MODEST FEE. THE MOLU IS OFFERED TO FIFTH GRADE CLASSES OR ABOVE AND CONTAINS ACTIVITIES ALIGNED WITH NATIONAL AND STATES SCIENCE STANDARDS. 71 SCHOOLS WERE VISITED THROUGHOUT TEXAS AND PENNSYLVANIA, IMPACTING ALMOST 7,715 STUDENTS. IN ADDITION, 159 TEACHERS WERE TRAINED IN 8 TEACHER WORKSHOPS CONDUCTED BY OEC STAFF AND OEC FACILITATORS ACROSS TEXAS ON THE PROJECT E3 KNOWLEDGE BOX AND PLAYING WITH PETROLEUM KIT POTENTIALLY IMPACTING OVER 34,386 STUDENTS. THE ORGANIZATION HAS 9 TRAVELING TRUNKS AVAILABLE IN HOUSTON AND IN OTHER STATES FOR TEACHERS TO UTILIZE IN THEIR CLASSROOMS FOR GRADES K-12. THE ORGANIZATION SUPPORTS THE EDUCATION AND PUBLIC SUPPORT OBJECTIVES THROUGH THE OEC SOCIETY, HALL OF FAME, AND EXECUTIVE SPEAKER SERIES - A FORUM FOR EDUCATION AND NETWORKING IN THE OILFIELD ENERGY INDUSTRY.

Program 3

THE ORGANIZATION SUPPORTS THE EDUCATION AND PUBLIC SUPPORT OBJECTIVES THROUGH THE OEC SOCIETY, HALL OF FAME, AND EXECUTIVE SPEAKER SERIES - A FORUM FOR EDUCATION AND NETWORKING IN THEVOILFIELD ENERGY...

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THE ORGANIZATION SUPPORTS THE EDUCATION AND PUBLIC SUPPORT OBJECTIVES THROUGH THE OEC SOCIETY, HALL OF FAME, AND EXECUTIVE SPEAKER SERIES - A FORUM FOR EDUCATION AND NETWORKING IN THEVOILFIELD ENERGY INDUSTRY.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,777,881
Program Service Revenue $152,485
Investment Income $86,626
Other Revenue $-99,995
TOTAL REVENUE $1,916,997

Expense Breakdown

Grants Paid $0
Salaries & Benefits $842,565
Fundraising Expenses $130,822
Program Expenses $1,412,058
Other Expenses $952,413
TOTAL EXPENSES $1,794,978

Year-over-Year Comparison

2024 2023 Change
Revenue $1,916,997 $871,212 +1.2%
Expenses $1,794,978 $1,772,683 +0.0%
Net Income $122,019 $-901,471 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
28
Independent Members
28
Employees
10
Volunteers
36

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
10
$189,738
Total Directors
28
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES J PARR CHAIRMAN OF THE BOARD 1.00
Officer Director
$0 $0 $0
NICK PATTERSON VICE CHAIR OF BOARD 1.00
Officer Director
$0 $0 $0
ROBERT E WARREN SECRETARY 1.00
Officer Director
$0 $0 $0
DAVID RUSSELL VICE CHAIRMAN/OPERATIONS 1.00
Officer Director
$0 $0 $0
ROBERT EIFLER VICE CHAIRMAN/MARKETING 1.00
Officer Director
$0 $0 $0
SHAWN VIGEANT VICE CHAIRMAN/DEVELOPMENT 1.00
Officer Director
$0 $0 $0
JEFFREY A GORSKI VICE CHAIRMAN/EXHIBITS & P 1.00
Officer Director
$0 $0 $0
WILLIAM BARKHOUSE VICE CHAIRMAN, HALL OF FAME 1.00
Officer Director
$0 $0 $0
LORI FREMIN VICE CHAIRMAN/ADMIN & PERSONNEL 1.00
Officer Director
$0 $0 $0
MARK ASHWELL DIRECTOR 1.00
Director
$0 $0 $0
JEFF BEACH DIRECTOR 1.00
Director
$0 $0 $0
MIKE BEATTIE DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM DESROSIERS DIRECTOR 1.00
Director
$0 $0 $0
DAVID FORBES DIRECTOR 1.00
Director
$0 $0 $0
MIKE GARVIN DIRECTOR 1.00
Director
$0 $0 $0
RICHARD GHISELIN DIRECTOR 1.00
Director
$0 $0 $0
SHANE MARCHAND DIRECTOR 1.00
Director
$0 $0 $0
JOEY HUSBAND DIRECTOR 1.00
Director
$0 $0 $0
LES MALLORY DIRECTOR 1.00
Director
$0 $0 $0
TIM MCGARITY DIRECTOR 1.00
Director
$0 $0 $0
ERIK MILITO DIRECTOR 1.00
Director
$0 $0 $0
JOE POPE DIRECTOR 1.00
Director
$0 $0 $0
LOREN SINGLETARY DIRECTOR 1.00
Director
$0 $0 $0
SHAWN SKOBEL DIRECTOR 1.00
Director
$0 $0 $0
JOHN SPATH DIRECTOR 1.00
Director
$0 $0 $0
JASON MAY DIRECTOR 1.00
Director
$0 $0 $0
JIM SLEDZIK DIRECTOR 1.00
Director
$0 $0 $0
MIKE GALIUNAS DIRECTOR 1.00
Director
$0 $0 $0
KRISTEN BARLEY EXECUTIVE DIRECTOR 40.00
Officer
$182,800 $6,938 $189,738
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,916,997 $1,794,978 $4,976,384 $122,019
2023 $871,212 $1,772,683 $5,015,028 $-901,471
2022 $896,664 $1,800,403 $5,890,947 $-903,739
2021 $720,888 $1,313,230 $6,668,720 $-592,342
2020 $683,365 $1,560,742 $7,206,274 $-877,377
2019 $1,425,097 $1,781,462 $8,015,931 $-356,365
2018 $1,745,594 $1,831,095 $8,351,991 $-85,501
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